This news is solely for you if you wish to keep your elderly age safe. LIC has launched a fantastic plan for you to invest in, allowing you to simply keep up with your old age needs. LIC has introduced the Jeevan Shanti Policy, an unique and luxurious policy. You will receive a lifelong guaranteed pension if you invest in this policy. You will be able to easily pay your expenses after retirement if you do this (LIC Life Insurance).

What is LIC Jeevan Shanti Scheme?

The Jeevan Shanti policy is comparable to the Jeevan Akshay plan of the Life Insurance Corporation of India. In Jeevan Shanti policy, you have two choices. Immediate Annuity is the first, while Deferred Annuity is the second. There is only one premium package available. Pension benefits are accessible immediately after purchasing a policy under the first option, Immediate Annuity. In the case of a delayed annuity, however, a pension is accessible after 5, 10, 15, or 20 years of policy ownership. The most important thing is that you can start your pension right away if you want to.

The amount of the pension under this plan isn’t set in stone. Your pension will be calculated based on your investment, age, and deferment period. The more time passes between your investment and the start of your pension, or the older you are, the larger your pension will be. LIC pays out a pension based on the percentage return on your investment.

Who will get the benefits?

Individuals with a minimum age of 30 and a maximum age of 85 can get this LIC plan. Apart from that, a loan in the Jeevan Shanti plan can be taken after one year of pension commencement and returned after three months of pension commencement. Annual rates will be assured for both selections when purchasing the policy. Under the plan, you can choose from a variety of annuity options and payment methods. However, bear in mind that after you’ve chosen this policy, you won’t be able to change it. This plan is available both offline and online.